Can We Afford To Wait For A Century To Get Global Gender Parity?

The persistent gender gap remains a pressing issue worldwide, with the latest Global Gender Gap Report 2024 indicating that the world has bridged 68.5% of the gender divide. At the current rate, it will take another 134 years—equivalent to five generations—to close the gender gap completely. Since last year, the global gender gap has narrowed by 0.1 percentage point.

"Despite some bright spots, the slow and incremental gains highlighted in this year's Global Gender Gap Report underscore the urgent need for a renewed global commitment to achieving gender parity, particularly in economic and political spheres," said Saadia Zahidi, Managing Director of the World Economic Forum "We can't wait until 2158 for parity. "Now is the time for decisive action."

Political Participation and Representation

In recent years, women’s representation in politics has seen a notable increase at both the federal and local levels. However, despite these gains, women around the world continue to face gender barriers when it comes to securing top-level political positions. The year 2024 is set to be a critical one for female political representation, with over 60 national elections scheduled and the largest global voter turnout in history anticipated. This surge in democratic participation presents a unique opportunity for further improvement in women's political standing.

Nevertheless, the challenge of breaking into top-tier roles is not confined to politics. Across various industries, women remain underrepresented in senior leadership positions. Data from LinkedIn illustrates a phenomenon termed the “drop to the top,” where women’s representation significantly dwindles from entry-level roles to the C-suite, a trend consistent across all sectors.

Global Gender Gap Report 2024: Parity For Women Remains 5 Generations Away  

The Global Gender Gap Index offers a mixed picture of progress. Although half of the economies included in the index have made incremental advances, substantial disparities persist. The global gender gap will narrow slightly in 2024, with the most significant improvement observed in the economic participation and opportunity sub-index, which increased by 0.6 percentage points. Other areas, such as political empowerment and health and survival, have also shown modest progress, while educational attainment experienced a minor decline.

Pockets of Progress

The latest report highlights several positive advancements despite the continuous challenges faced globally. One notable achievement is the resurgence of parity in labour-force participation rates for women, which have increased to 65.7% worldwide from a low of 62.3% during the aftermath of the pandemic.

Latin America and the Caribbean stand out with an overall gender parity score of 74.2%, marking the region's highest economic parity score yet at 65.7%. This milestone is attributed to significant strides in labour-force participation and professional roles, coupled with the second-highest regional score in political empowerment at 34%. The success story of Latin America could serve as a blueprint for other regions seeking gender parity.

Moreover, several individual economies have shown remarkable progress, with the six most improved countries ascending more than 20 places in the rankings. Ecuador leads the pack with a remarkable jump of 34 places, now ranked 16th. Sierra Leone follows closely behind, climbing 32 spots to secure the 80th position. Additionally, Guatemala has surged 24 places to claim the 93rd rank, while Cyprus has ascended 22 places to reach 84th. Romania and Greece have both made significant strides, each climbing 20 places in the rankings, now positioned at 68th and 73rd, respectively. 

Country & Regional Perspectives

Europe continues to set the pace, boasting a gender parity score of 75%. Seven out of the top 10 spots on the gender equality leaderboard are claimed by European nations. Leading the charge is Iceland, recognized as the most gender-equal country, having bridged 93.5% of its overall gender gap. Finland, Norway, Sweden, Germany, and Ireland also shine, with each closing over 80% of their gender disparities. Over the years, Europe has made significant strides, improving its overall parity score by 6.2 percentage points since 2006.

Not far behind, North America secures the second spot with a gender parity score of 74.8%, marking a commendable 4.3 percentage point progress since 2006. The region excels in education and health, achieving perfect scores of 100% and 96.9%, respectively. However, challenges persist in economic participation, where, at 76.3%, disparities in income and leadership roles hinder complete equality.

Latin America and the Caribbean clinch the third position with a score of 74.2%, exhibiting a remarkable improvement of 8.3 percentage points since 2006, the most significant leap among all regions. Notable advancements are witnessed in workforce participation, with women making significant strides in professional and technical fields, achieving parity in 68% of the region.

In the rankings, Eastern Asia and the Pacific secured the fourth spot with a score of 69.2%. Although economic opportunities have improved to 71.7%, disparities in labour force participation remain among countries. Educational and health outcomes fare better, yet political empowerment lags, with countries like New Zealand and the Philippines leading the charge.

Central Asia follows closely in fifth place with a score of 69.1%. Despite near-parity in education and health, both economic and political scores have regressed since 2023. Armenia, Georgia, and Kazakhstan stand out as top performers, each closing over 71% of their gender gaps.

Sub-Saharan Africa secures the sixth rank with a score of 68.4%. Notable progress is observed in political empowerment, with countries like Namibia and South Africa leading the way. However, economic participation and educational attainment continue to pose challenges, despite over half of the countries closing over 70% of their gender gap.

Southern Asia occupies the seventh spot with a score of 63.7%. While strides have been made in education, economic participation, and political empowerment remain areas of concern. Bangladesh appears as a frontrunner in the region, followed by Nepal and Sri Lanka.

The Middle East and North Africa bring up the rear with a score of 61.7%. Despite improvements in education since 2006, economic participation and political empowerment scores remain low. Nonetheless, countries like Saudi Arabia, Bahrain, and the United Arab Emirates have made notable progress towards gender parity, with the UAE and Israel being seen as top performers, the only two economies in the region to rank within the top 100 globally.

Gender Gap in STEM Fields 

While women's labour force participation has improved by 2024, notable regional disparities remain. According to LinkedIn data, women continue to be underrepresented in nearly every industry and economy, making up only 42% of the global workforce and a mere 31.7% of senior leadership positions. Several factors, including gender gaps in professional networks and caregiving responsibilities, are hindering women's economic advancement. The World Bank estimates that closing the gender gap in employment and entrepreneurship could boost global GDP by over 20%.

A notable positive trend is the increasing presence of women in AI engineering, with their numbers more than doubling since 2016. Despite this progress, the gender gap in STEM fields and AI talent remains a significant hurdle. LinkedIn data shows that women hold 29% of entry-level STEM roles and just 12.2% of C-suite positions. Furthermore, gender parity in online skilling remains low in crucial areas such as AI and big data (30%), programming (31%), and networks and cybersecurity (31%), as per Coursera data.

Additionally, a large-scale survey by PwC highlights gender differences in perceptions of future skill demands. Women, given their current roles, tend to view digital, analytical, and green skills as less critical to their career trajectories over the next five years.

“The slow progress that had been made in women being hired into leadership roles is now starting to erode from a peak seen in 2022. As the global economy has cooled, it is women that have been disproportionately hit, reinforcing the systemic issues that hold women back in the workplace,” Sue Duke, Vice-President Global Public Policy and Economic Graph, LinkedIn, claimed. “We are reaching a pivotal moment as generative AI starts to impact the labour market with a recalibration of the skills employers value most. Employers must ensure they apply a gender lens to their approach to upskilling to establish the future workplace in a fair and equitable way.”

The need for immediate and decisive action is clear, as the world cannot afford to wait over a century to achieve full gender parity.